Bayer (&Monsanto)
BAYZF
Health Care
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Bayer became the world's largest supplier of both seeds and pesticides following its 2018 acquisition of Monsanto. Its Crop Science division generated approximately EUR 23.3 billion in sales in 2023. The herbicide glyphosate, marketed as Roundup, is central to this portfolio.
Bayer has settled tens of thousands of lawsuits alleging that glyphosate causes non-Hodgkin's lymphoma, with settlement costs exceeding $10 billion. Internal documents released during litigation — the Monsanto Papers — revealed company efforts to influence scientific assessment and counteract the 2015 IARC classification of glyphosate as "probably carcinogenic to humans."
Beyond glyphosate, Bayer's portfolio includes neonicotinoid insecticides, cited by researchers as a major contributor to global pollinator decline. A 2024 OECD complaint against Bayer documented the negative impacts of its genetically modified soy agribusiness model in Latin America, citing deforestation, community displacement, and pesticide drift affecting local populations and ecosystems.
Research Sources
8 organizations
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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